As the United States industrialized very rapidly after the Civil War, a few hundred prominent men made large fortunes by building and controlling major industries, such as railroads, shipping, steel, mining and banking. Yet the newer who gathered the most attention was railroader Cornelius Vanderbilt. Historian Stephen Frazier argues that probably most Americans admired Vanderbilt; they agreed with biographer William Augustus Croffut who wrote in 1886:
It is now known that the desire to own property is the chief difference between the Savage and the enlightened man; that aggregations of money in the hands of individuals are in inestimable blessing to Society, for without them there could be no public improvements or private enterprises, no railroads or steamships, or telegraphs; no cities, the leisure class, no schools, colleges, literature, art – in short, no civilization. The one man to whom the community owes most is the capitalist, that the menu gives, but the man who saves and invests, so that his property reproduces and multiplies itself instead of being consumed.[5]
However, Fraser goes on, there was a minority who vehemently dissented:
A minority were irate and excoriated the titans of finance and industry as 'robber barons' and worse. E.L. Godkin, founder of The Nation, launched a volley of invective at the new plutocracy: 'kings of the street' like Vanderbilt displayed 'unmitigated and immitigable selfishness' as appalling as their 'audacity, push, unscrupulousness and brazen disregard of others' rights'.[6]
By the Great Depression of the 1930s, Fraser continues:
Biographies of Mellon, Carnegie and Rockefeller were often laced with moral censure, warning that 'tories of industry' were a threat to democracy and that parasitism, aristocratic pretension and tyranny have always trailed in the wake of concentrated wealth, whether accumulated dynastically or more impersonally by the faceless corporation. This scholarship, and the cultural persuasion of which it was an expression, drew on a deeply rooted sensibility–partly religious, partly egalitarian and democratic–that stretched back to William Jennings Bryan, Andrew Jackson and Tom Paine.[7]
However a counterattack by academic historians began as the Depression ended. Business historian Allan Nevins challenged this view of big businessmen by advocating the "Industrial Statesman" thesis. Nevins, in his John D. Rockefeller: The Heroic Age of American Enterprise (2 vols., 1940), took on Josephson. He argued that while Rockefeller may have engaged in some unethical and illegal business practices, this should not overshadow his bringing order to industrial chaos of the day. Gilded Age capitalists, according to Nevins, sought to impose order and stability on competitive business, and that their work made the United States the foremost economy by the 20th century.[8] Business journalist Ferdinand Lundberg later criticized Nevins for confusing readers.[9] By contrast, historian Priscilla Roberts argues that Nevins' studies of inventors and businessmen brought about a reassessment of American industrialization and its leaders. She writes:
Nevins argued that economic development in the United States caused relatively little human suffering, while raising the general standard of living and making the United States the great industrial power capable of defeating Germany in both world wars. The great capitalists of that period should, he argued, be viewed, not as 'robber barons', but as men whose economic self-interest had played an essentially positive role in American history, and who had done nothing criminal by the standards of their time.[10]
Historians have followed Nevins' lead in writing biographies of the major industrialists of the Gilded Age. These include:
Though these later biographers did not confer heroic status on their subjects, they used historical and biographical investigations to establish a more complex understanding of the American past, and the history of American economic development in particular.
In 1958 historian Hal Bridges finds that "The most vehement and persistent controversy in business history has been that waged by the critics and defenders of the 'robber baron' concept of the American businessman."[11] In terms of the Robber Baron model, by the end of the 20th-century scholars had mostly discarded it although it remained influential in the popular culture. Richard White, historian of the transcontinental railroads, stated in 2011 he has no use for the concept because it had been killed off by historians Robert H. Wiebe and Alfred Chandler. He notes that "Much of the modern history of corporations is a reaction against the Robber Barons and fictions."[12]
Academic studies
Meanwhile, business history as an academic discipline was founded by Professor N. S. B. Gras at the Harvard University Graduate School of Business Administration, starting in 1927. He defined the field's subject matter and approach, wrote the first general treatise in the field, and helped Harvard build a tradition of scholarship as well as the leading library in the field. He edited a series of monographs, the Harvard Studies in Business History. He also served as editor of the Bulletin of the Business Historical Society (1926–1953), a journal which later became the Business History Review (1954-date). N.S.B. Grass and Henrietta M. Larson, Casebook in American business history (1939) defined the field for a generation.[13]
Business history in the U.S. took off in the 1960s with a high volume of products and innovative methodologies. Scholars worked to develop theoretical explanations of the growth of the business enterprise, the study of strategy and structure by Alfred Chandler being a prime example. The relationship between business and the federal government became a focal point of the study. On the whole, the 1960s affirmed the conclusions of the earlier decades regarding the close interrelationship between government and business enterprise.[14]
After 1960 the most influential scholar was Alfred D. Chandler Jr. (1918-2007) at the Harvard Business School. In a career that spanned over sixty years, Chandler produced numerous groundbreaking monographs, articles, and reviews. Intensely focused on only a few areas of the discipline, Chandler nonetheless succeeded in establishing and developing an entirely new realm of business history.[19][20][21]
Chandler's masterwork was The Visible Hand: The Managerial Revolution in American Business (1977). His first two chapters looked at traditional owner-operated small business operations in commerce and production, including the largest among them, the slave plantations in the South. Chapters 3-5 summarize the history of railroad management, with stress on innovations not just in technology but also in accounting, finance and statistics. He then turned to the new business operations made possible by the rail system in mass distribution, such as jobbers, department stores and mail order. A quick survey (ch 8) review mass innovation in mass production. The integration of mass distribution and mass production (ch 9-11) led to many mergers and the emergence of giant industrial corporations by 1900. Management for Chandler was much more than the CEO, it was the whole system of techniques and included middle management (ch 11) as well as the corporate structure of the biggest firms, Standard Oil, General Electric, US Steel, and DuPont (ch 13–14). Chandler argued that modern large-scale firms arose to take advantage of the national markets and productive techniques available after the rail network was in place. He found that they prospered because they had higher productivity, lower costs, and higher profits. The firms created the "managerial class" in America because they needed to coordinate the increasingly complex and interdependent system. This ability to achieve efficiency through coordination, not some anti-competitive monopolistic greed by robber barons, explained the high levels of concentration in modern American industry.[22]
Chandler's work was somewhat ignored in history departments, but proved influential in business, economics, and sociology departments.[23] In sociology, for example, prior to Chandler's research, sociologists assumed there were no differences between governmental, corporate, and nonprofit organizations. Chandler's focus on corporations clearly demonstrated that there were differences, and this thesis has guided organizational sociologists' work since the 1970s. It also motivated sociologists to investigate and critique Chandler's work more closely, turning up instances in which Chandler assumed American corporations acted for reasons of efficiency when they actually operated in a context of politics or conflict.[24] Other historians, such as Gabriel Kolko, challenged the very notion of "efficiency through coordination", arguing instead that big business had, for reasons of inefficiency and a dislike of market discipline, openly sought government assistance to keep market forces at bay.
Other mechanisms
Lamoreaux et al. (2003) offers a new synthesis of American business history during the 19th-20th centuries. Moving beyond the markets-versus-hierarchies framework that underlies the previously dominant interpretation of Chandler, the authors highlight the great variety of coordination mechanisms in use in the economy at any given time. Drawing on late-20th-century theoretical work in economics, they show how the relative advantages and disadvantages of these different mechanisms have shifted in complex and often unpredictable ways as a result of changing economic circumstances. One advantage of this perspective is that it avoids the teleology that has characterized so much writing in the field. As a result, the authors can situate the "New Economy" of the late 20th century in broad historical context without succumbing to the temptation to view it as a climactic stage in the process of economic development. They thus provide a particularly persuasive example of the importance of business history to the understanding of national and international history.[25]
A number of sources address the history of business management as it has developed as a profession. From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession (2007) by Rakesh Khurana traces the rise and development of American management as a profession and argues that its promise has been unfulfilled. A key event was the publication of the Gordon-Howell report, Higher Education for Business (1959), by economists Robert Aaron Gordon and James Edwin Howell. Funded by the Ford Foundation, the report gave detailed recommendations for treating management as a science and improving the academic quality of business schools.[26][27][28][29][30] Another influential report, that same year, was The Education Of American Businessmen: A Study Of University-College Programs In Business Administration (1959) by Frank Cook Pierson.[31] The next thirty years are sometimes referred to as a “Golden Age” in which quantitative social science research became an established part of business schools.[32][26] By the 1990s, however, there was a gap between theory-oriented business school faculty and the more applied interests of students and business practitioners. In 1993, Donald C. Hambrick's presidential address to the Academy of Management (AoM). “What if the Academy Actually Mattered?”, drew attention to this relevance crisis. The theme has been repeatedly visited since then, including by president Anita M. McGahan in 2017.[26][27][33][34] Another major focus of concern has been the replication crisis. Anne S. Tsui has suggested that business and management should not treat the issues of rigor (credibility of evidence) and relevance (usefulness of knowledge) separately, but see them as related.[35]
Comparative
Understanding the development of business history as a discipline meriting its own aims, theories and methods is often understood as a transition from dominating themes of 'company biography', toward more analytical 'comparative' approaches. This 'comparative' trend enabled practitioners to underline their work with 'generalist' potential. Questions of comparative business performance have become a staple, featuring into the wider economic histories of nations, regions, and communities. For many, this transition was first achieved by Alfred D. Chandler. Chandler's successors as Isidor Straus Professor of Business History at Harvard Business School continued to emphasize the importance of comparative research and course development. In 1995 Thomas K. McCraw published Creating Modern Capitalism (Cambridge, MA 1995) [36] This book compared the business histories of Britain, Germany, Japan, and the United States since the Industrial Revolution, and was used as the text of a new year MBA course at Harvard Business School. Geoffrey Jones, who was McCraw's successor as Isidor Straus Professor of Business History, also pursued a comparative research agenda. He published a comparative study of the history of globalization called Multinationals and Global Capitalism (Oxford, 2005).[37] In 2010, Jones also published a comparative history of the global beauty industry entitled Beauty Imagined: A History of the Global Beauty Industry (Oxford, 2010).[38] More recently, Jones and the Business History Initiative at the Harvard Business School has sought to facilitate research and teaching on African, Asian and Latin American business history in a project called Creating Emerging Markets, which includes interviews with long-time leaders of firms and NGOs in those regions.[39][40][41]
A trend in recent years has been to compare the business histories of individual countries. Geoffrey Jones (academic) and Andrea Lluch have published a comparative study of the historical impact of globalization on Argentina and Chile.[42] In 2011 Jones and his co-editor Walter A. Friedman published an editorial in Business History Review which identified comparative research as essential for the future of business history as a discipline.[43]Anne S. Tsui has studied business in both the United States and China and encourages scholars to collaborate internationally and to study leadership as it is practiced in China.[26][44]
France
American historians working in French business history led by Rondo Cameron argued that most of the business enterprises in France were family-owned, small in scale, and managed conservatively.[45] By contrast, French business historians emphasized the success of national economic planning since the end of World War II. They argued that the economic development in this period stemmed from various phenomena of the late 19th century: the corporation system, the joint-stock deposit and investment banks, and the technological innovations in the steel industry. To clarify the contributions of 19th-century entrepreneurs to the economic development in France, French scholars support two journals, Enterprises et Histoire and Revue d'Histoire de la Siderurgie.[46][47]
Latin America
Barbero (2008) examines the development of the field of Latin American business history, from the 1960s to 2007. Latin American business history developed in the 1960s, but until the 1980s it was dominated by either highly politicized debates over Latin American underdevelopment or biographies of Latin American entrepreneurs. Since the 1980s, Latin American business history has become a much more professionalized and an integrated part of Latin American academia. It is much less politicized and has moved beyond entrepreneurial biography to histories of companies and industries. However, Latin American business historians have still not devoted enough attention to agricultural enterprises or comparative histories between the many countries. Probably most importantly, Latin American business historians have to become much more versed in business history theory and methodology so as to get beyond mere summation of the region's economic past.[48][49]
In the 1980s, numerous governments in Latin America adopted neoliberal policies.[50][51] In Mexico, for example, under presidents Carlos Salinas de Gortari (1988–94) and Ernesto Zedillo neoliberalism became the basis for state-private sector relationships. The new policy allowed for close cooperation with United States and Canada as exemplified by the North American Free Trade Agreement (NAFTA) solidified a strategic alliance between the state and business.[52] In Brazil The key policy was privatization of nationalized industries especially steel through the 'Programa Nacional de Desestatizção' (National Program of Destatization) during the early 1990s. It aimed to implement a new industrial policy by restructuring the industry and reforming labor-business relations.[53][54]
The Common Market of the South, or Mercosur, is a South American commerce pact started in 1991 among Argentina, Brazil, Paraguay, and Uruguay at the instigation of Argentina and Brazil.[55] Mercosur's purpose is to promote free trade and the fluid movement of goods, people, and currency. Since its foundation, Mercosur's functions have been updated and amended many times; it currently confines itself to a customs union, in which there is free intra-zone trade and common trade policy between member countries.[56]
Britain
Business history in Britain emerged in the 1950s following the publication of a series of influential company histories and the establishment of the journal Business History[57] in 1958 at the University of Liverpool. The most influential of these early company histories was Charles Wilson (historian)’s History of Unilever, the first volume of which was published in 1954. Other examples included Coleman's work on Courtaulds and artificial fibers, Alford on Wills and the tobacco industry, Barker on Pilkington's and glass manufacture.[58][59] These early studies were conducted primarily by economic historians interested in the role of leading firms in the development of the wider industry and therefore went beyond mere corporate histories. Although some work examined the successful industries of the industrial revolution and the role of the key entrepreneurs, in the 1970s scholarly debate in British business history became increasingly focused on the economic decline. For economic historians, the loss of British competitive advantage after 1870 could at least in part be explained by entrepreneurial failure, prompting further business history research into the individual industry and corporate cases. The Lancashire cotton textile industry, which had been the leading take-off sector in the industrial revolution, but which was slow to invest in subsequent technical developments, became an important topic of debate on this subject. William Lazonick for example argued that cotton textile entrepreneurs in Britain failed to develop larger integrated plants on the American model; a conclusion similar to Chandler's synthesis of a number of comparative case studies.[60][61]
Studies of British business leaders have emphasized how they fit into the class structure, especially their relationship to the aristocracy, and the desire to use their wealth to purchase landed estates, and hereditary titles.[62][63][64] Biography has been of less importance in British business history, but there are compilations.[65] British business history began to widen its scope in the 1980s, with research work conducted at the LSE's Business History Unit, led first by Leslie Hannah, then by Terry Gourvish. Other research centres followed, notably at Glasgow and Reading, reflecting an increasing involvement in the discipline by Business and Management School academics. More recent editors of Business History, Geoffrey Jones (academic) (Harvard Business School), Charles Harvey (University of Newcastle Business School), John Wilson (Liverpool University Management School) and Steven Toms (Leeds University Business School) have promoted management strategy themes such as networks, family capitalism, corporate governance, human resource management, marketing and brands, and multi-national organisations in their international as well as merely British context. Employing these new themes has allowed business historians to challenge and adapt the earlier conclusions of Chandler and others about the performance of the British economy.[66]
Africa
There is a growing body of work of business history in Africa. In one of the recent works Ebimo Amungo chronicled the birth, growth and contributions of indigenous African multinationals to the economic development of Africa with his book "The Rise of the African Multinational Enterprise".[67]
Notes
↑ Claus, Peter; Marriott, John (2012). History: An Introduction to Theory, Method and Practice (2ed.). London: Taylor & Francis (published 2017). p.214. ISBN9781317409878. Retrieved 2018-07-06. Essentially, business history is concerned with how production and the delivery of goods and services was organized in the past; by an individual, a sole trader, a group of individuals, a partnership, or a joint stock limited liability concern - the modern company. It is also concerned with understanding the processes underlying decision making. All this makes business history distinct from economic history, although they are clearly allied [...].
↑ Peter d'A. Jones ed. The Robber Barons Revisited (1968) summarizes the debate and provides excerpts from primary and secondary sources.
↑ Thomas C. Cochran, "The Legend of the Robber Barons." Explorations in Economic History 1#5 (1949) onlineArchived 2019-06-20 at the Wayback Machine .
↑ Hal Bridges, "The Robber Baron Concept in American History" Business History Review (1958) 32#1 pp.1–13 in JSTOR
↑ Hal Bridges, "The Robber Baron Concept in American History", Business History Review (1958) 32#1 pp.1–13 in JSTOR
↑ Richard White, Railroaded: The Transcontinentals and the Making of Modern America (2011) pp. xxxi, 234, 508.
↑ See N.S.B. Grass and Henrietta M. Larson, Casebook in American business history (1939)
↑ Richard R. John, "Elaborations, revisions, dissents: Alfred D. Chandler, Jr.'s, the visible Hand after twenty years." Business History Review 71.2 (1997): 151-200. online
↑ Blaine McCormick, and Burton W. Folsom. "A survey of business historians on America's greatest entrepreneurs." Business History Review 77.4 (2003): 703-716. online
↑ Joyce Thompson Heames, and Jacob W. Breland. "Management pioneer contributors: 30-year review." Journal of Management History 16.4 (2010): 427-436. online[permanent dead link].
↑ Richard R. John, "Elaborations, Revisions, Dissents: Alfred D. Chandler Jr.'s The Visible Hand after Twenty Years," Business History Review (1997) 7#1 pp 151-200 online
↑ Richard R. John, "Turner, Beard, Chandler: Progressive Historians." Business History Review 82.02 (2008): 227-240.
↑ Pamela Walker Laird, "Alfred D. Chandler, Jr. and the Landscape of Marketing History." Journal of Macromarketing 20#2 (2000): 167-173.
↑ Steven W. Usselman, "Still Visible: Alfred D. Chandler's The Visible Hand," Technology and Culture vol 47 #3 (2006) 584-596
↑ Thomas K. McCraw, "Alfred Chandler: His Vision and Achievement," Business History Review, Summer 2008, Vol. 82 Issue 2, pp 207-226
↑ Neil Fligstein, "Chandler and the Sociology of Organizations," Business History Review, Summer 2008, Vol. 82 Issue 2, pp 241-250
↑ Naomi R. Lamoreaux et al, "Beyond Markets and Hierarchies: Toward a New Synthesis of American Business History." American Historical Review 2003 108(2): 404-433.
1 2 Khurana, Rakesh (2007). From higher aims to hired hands: the social transformation of American business schools and the unfulfilled promise of management as a profession. Princeton: Princeton University Press. p.273. ISBN9780691145877.
↑ McKiernan, P.; Tsui, A. S. (2020). "Responsible Research in Business and Management: transforming doctoral education". In Moosmayer, DC; Laasch, O; Parkes, C; Brown, KG (eds.). The Sage Handbook of Responsible Management Learning and Education. Thousand Oaks, CA: Sage Publ. pp.485–501.
↑ Geoffrey Jones; Andrea Lluch (2015). The Impact of Globalization on Argentina and Chile. Business Enterprises and Entrepreneurship. Edward Elgar. ISBN978-1-78347-363-2.
↑ Tom Kemp, "French economic performance: some new views critically examined." European History Quarterly 15.4 (1985): 473-488.
↑ Youssef Cassis, "Business History in France" in Franco Amatori and Geoffrey Jones, eds. Business history around the world (Cambridge University Press, 2003) pp. 192-214
↑ François Crouzet, "The historiography of French economic growth in the nineteenth century." Economic History Review 56.2 (2003): 215-242.
↑ María Inés Barbero, "Business History in Latin America: A Historiographical Perspective," Business History Review, (2008) 82#3, pp 555-575
↑ Carlos, Marichal, "Archival Note: Banking History and Archives in Latin America," Business History Review, (2008) 82#3 pp 585-602
↑ Gerardo Otero, "The neoliberal food regime in Latin America: state, agribusiness transnational corporations and biotechnology." Canadian Journal of Development Studies/Revue canadienne d'études du développement 33.3 (2012): 282-294 .
↑ Ben Ross Schneider, "The material bases of technocracy: Investor confidence and neoliberalism in Latin America." in The politics of expertise in Latin America edited by Miguel A. Centeno, and Patricio Silva, (Palgrave Macmillan, 1998) pp. 77-95. OnlineArchived 2020-05-31 at the Wayback Machine
↑ Remonda Bensabat Kleinberg, "Strategic Alliances: State‐Business Relations in Mexico Under Neo‐Liberalism and Crisis." Bulletin of Latin American Research 18.1 (1999): 71-87.
↑ Ben Ross Schneider, "The developmental state in Brazil: comparative and historical perspectives." Brazilian Journal of Political Economy 35.1 (2015): 114-132.
↑ José Ignácio Vega Fernández, "Neoliberalism and Neo-Developmentalism as Promoters of Capitalist Aquaculture in Brazil." in State Capitalism Under Neoliberalism: The Case of Agriculture and Food in Brazil (2019): 147+.
↑ Gian Luca Gardini, "Who Invented Mercosur?." Diplomacy and Statecraft 18.4 (2007): 805-830.
↑ Laura Gómez-Mera, "Lessons from Latin America: MERCOSUR." in Region-Building in Africa (Palgrave Macmillan, New York, 2016). 297-312.
↑ John Wilson, and Steven Toms, J.S ‘Fifty years of Business History’, Business History (2008) 50#2 pp.125-26
↑ . Leslie Hannah, ‘New Issues in British Business History’, Business History Review (1983) 57# 2, pp.165-174.
↑ Chandler, A., Scale and Scope: The Dynamics of Industrial Capitalism, Cambridge Mass.: Belknap Press (1990).
↑ William Mass, & William Lazonick, "The British Cotton Industry and International Competitive Advantage: the state of the debates," Business History, (1990) 32#4 pp. 9-65.
↑ Howard L. Malchow, Gentlemen capitalists: the social and political world of the Victorian businessman (Stanford University Press, 19920.
↑ William D. Rubinstein, "Wealth, elites and the class structure of modern Britain." Past & Present 76 (1977): 99-126.
↑ Julia A. Smith, "Land ownership and social change in late nineteenth-century Britain." Economic History Review 53#.4 (2000): 767-776. in JSTOR
↑ David J. Jeremy, ed., Dictionary of business biography: a biographical dictionary of business leaders active in Britain in the period 1860-1980 (Butterworths, 1984).
↑ Toms, Steven and Wilson, John F. "Scale, Scope and Accountability: Towards a New Paradigm of British Business History," Business History (2003) 45#4 pp 1-23.
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Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price systems, private property, property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.
Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions. The field can encompass a wide variety of topics, including equality, finance, technology, labour, and business. It emphasizes historicizing the economy itself, analyzing it as a dynamic entity and attempting to provide insights into the way it is structured and conceived.
Industrialisation (UK) or industrialization (US) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing. Industrialisation is associated with increase of polluting industries heavily dependent on fossil fuels. With the increasing focus on sustainable development and green industrial policy practices, industrialisation increasingly includes technological leapfrogging, with direct investment in more advanced, cleaner technologies.
A multinational corporation (MNC) – also called a multinational enterprise (MNE), transnational enterprise (TNE), transnational corporation (TNC), international corporation, or stateless corporation, with subtle but contrasting senses – is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control is considered an important aspect of an MNC to distinguish it from international portfolio investment organizations, such as some international mutual funds that invest in corporations abroad simply to diversify financial risks. Black's Law Dictionary suggests that a company or group should be considered a multinational corporation "if it derives 25% or more of its revenue from out-of-home-country operations".
Joseph Allan Nevins was an American historian and journalist, known for his extensive work on the history of the Civil War and his biographies of such figures as Grover Cleveland, Hamilton Fish, Henry Ford, and John D. Rockefeller, as well as his public service. He was a leading exponent of business history and oral history.
Alfred DuPont Chandler Jr. was a professor of business history at Harvard Business School and Johns Hopkins University, who wrote extensively about the scale and the management structures of modern corporations. His works redefined business and economic history of industrialization. He received the Pulitzer Prize for History for his work, The Visible Hand: The Managerial Revolution in American Business (1977). He was a member of both the American Academy of Arts and Sciences and the American Philosophical Society. He has been called "the doyen of American business historians".
Burton W. Folsom Jr. is an American historian and author who held the Charles F. Kline chair in history and management at Hillsdale College from 2003 until his retirement in December 2016.
Takashi Hikino is specially appointed professor at the Graduate School of Management at Kyoto University after serving as associate professor of industrial and business organization at the Graduate School of Management at Kyoto University where he taught industrial organization, business economics, and corporate strategy, and comparative management since 1998. He attended Hitotsubashi University, where he studied at the Graduate School of Sociology(B.A. and M.A. )
Robber baron is a term first applied as social criticism by 19th century muckrakers and others to certain wealthy, powerful, and unethical 19th-century American businessmen. The term appeared in that use as early as the August 1870 issue of The Atlantic Monthly magazine. By the late 19th century, the term was typically applied to businessmen who used exploitative practices to amass their wealth. Those practices included unfettered consumption and destruction of natural resources, influencing high levels of government, wage slavery, squashing competition by acquiring their competitors to create monopolies and/or trusts that control the market, and schemes to sell stock at inflated prices to unsuspecting investors. The term combines the sense of criminal ("robber") and illegitimate aristocracy in a republic.
Capitalism is an economic system based on the private ownership of the means of production, and their operation for profit. Other characteristics include free trade, capital accumulation, voluntary exchange, and wage labor. Its emergence, evolution, and spread are the subjects of extensive research and debate. Debates sometimes focus on how to bring substantive historical data to bear on key questions. Key parameters of debate include: the extent to which capitalism is natural, versus the extent to which it arises from specific historical circumstances; whether its origins lie in towns and trade or in rural property relations; the role of class conflict; the role of the state; the extent to which capitalism is a distinctively European innovation; its relationship with European imperialism; whether technological change is a driver or merely a secondary byproduct of capitalism; and whether or not it is the most beneficial way to organize human societies.
Thomas Kincaid McCraw was an American business historian and Isidor Straus Professor of Business History, Emeritus at Harvard Business School, who won the 1985 Pulitzer Prize for History for Prophets of Regulation: Charles Francis Adams, Louis D. Brandeis, James M. Landis, Alfred E. Kahn (1984), which "used biography to explore thorny issues in economics."
A comprador or compradore is a "person who acts as an agent for foreign organizations engaged in investment, trade, or economic or political exploitation". An example of a comprador would be a native manager for a European business house in East and South East Asia, and, by extension, social groups that play broadly similar roles in other parts of the world.
The sprouts of capitalism, seeds of capitalism or capitalist sprouts are features of the economy of the late Ming and early Qing dynasties that mainland Chinese historians have seen as resembling developments in pre-industrial Europe, and as precursors of a hypothetical indigenous development of industrial capitalism. Korean nationalist historiography has also adopted the idea. In China the sprouts theory was denounced during the Cultural Revolution, but saw renewed interest after the economy began to grow rapidly in the 1980s.
The Visible Hand: The Managerial Revolution in American Business is a book by American business historian Alfred D. Chandler Jr., published by the Belknap Press imprint of Harvard University Press in 1977. Chandler argues that in the nineteenth century, Adam Smith's famous invisible hand of the market was supplanted by the "visible hand" of middle management, which became "the most powerful institution in the American economy".
The Business History Review is a scholarly quarterly published by Cambridge University Press for Harvard Business School. Business History Review is a peer-reviewed academic journal covering the field of business history. It was established in 1954 by Harvard University Press as the continuation of the Bulletin of the Business Historical Society.
William Lazonick is an economist who studies innovation and competition in the global economy.
Geoffrey G. Jones is a British-born business historian. He became a US citizen in 2010. He is currently Isidor Straus Professor of Business History at the Harvard Business School. The previous holders of this Chair, which was the first in the world in business history being founded in 1927, included Alfred D. Chandler, Jr. and Thomas K. McCraw.
American business history is a history of business, entrepreneurship, and corporations, together with responses by consumers, critics, and government, in the United States from colonial times to the present. In broader context, it is a major part of the Economic history of the United States, but focuses on specific business enterprises.
The historiography of the United Kingdom includes the historical and archival research and writing on the history of the United Kingdom, Great Britain, England, Scotland, Ireland, and Wales. For studies of the overseas empire see historiography of the British Empire.
The Research Center in Entrepreneurial History was a research center at Harvard University founded in 1948 with a grant from the Rockefeller Foundation. Led by the American economic historian Arthur H. Cole, the research center attracted numerous scholars, with varied backgrounds and religious beliefs, in the field of business and economic history such as Joseph Schumpeter, Fritz Redlich, and Thomas C. Cochran. The center issued the first academic journal devoted to entrepreneurship named Explorations in Entrepreneurial History. During the time of its existence, the center attracted rising academic stars such as Alfred D. Chandler Jr., who would later become one of the seminal figures in the field of business history. Intellectually, the research center was influenced by the German Historical School and focused on the role of the entrepreneur in the economy. However, historical research on entrepreneurship ran into methodological roadblocks and the research interest moved towards industrial corporations and neoclassical economics. Today, the research center is seen as one of the first modern attempts to research entrepreneurship and understand the impact of entrepreneurial activities on the economy. While historical research on entrepreneurship has not found much resonance in scientific and public debates, recent decades have seen a revival of the theories of Joseph Schumpeter and more recently calls for a revival of research on entrepreneurial history.
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